Auto Loans in San Jose (CA)

There are plenty of ways of getting an auto loan in San Jose, but only a few firms have optimized credit approval like we have. We’ve spent years building a network of lenders and dealers across California, and we have some of the highest success rates in the market. It’s hard to find a more convenient way to secure your auto loan.

Advantages of our System for San Jose Car Buyers

  • No reason to be concerned over getting your credit approved.
  • Schedule an appointment to choose your car.
  • No down payment cars frequently available for eligible borrowers.
  • Tremendous selection of new and pre-owned autos.

Considerations for People in San Jose with Bad Credit

When you’ve got less-than-perfect credit, bank financing often isn’t possible. Fortunately, there are loan providers and dealerships in San Jose that fund loans for people who have credit problems. Luckily, we are experts in serving customers with credit problems of all kinds, helping them secure the loans they need.

Discussing your auto loan, not choosing your car or truck, is the first order of business at any dealership that works with bad credit.

Dealerships are notorious for charging higher rates than those offered by the lender, you’ll want to inquire about the rate offered by the lender otherwise known as the buy rate. In a perfect world, your monthly payment should be just 5-8% of your gross income on a monthly basis. For example, a typical San Jose consumer who gets paid $2,896 every month, the average, should plan to fork out not more than $145 to $232.

Buy Here Pay Here Dealerships in San Jose, California

Buy here pay here dealers wants you to believe that you can’t get financed anywhere but with them, but this typically isn’t the way it is. Yes, they do not pull your credit, so bad credit shouldn’t be a barrier, but you will really pay for this over time.

Customarily, higher-mileage autos are the only ones you can buy, and dealers may expect you to have a GPS unit mounted in your vehicle. Repossession is common, and the interest rates are very high. Is improving your credit a priority for you? If so, you are better off applying through us, since buy here pay here car lots won’t assist you in rebuilding your credit.

Loan Amounts for San Jose Consumers

The better your credit, the bigger amount you can finance, which also goes for your income. These numbers are based on an income of $2,896 a month, the average for people in San Jose.

Credit History Multiplier Loan Amount
Excellent Credit 10 $28,960
Fair Credit 9 $26,064
Slow Credit 8 $23,168
Bad Credit 7 $20,272
Really Bad Credit 6 $17,376

But don’t forget: there’s how much it’s possible for you to finance, and the amount you should. Here we have a table revealing what car you can afford with a monthly payment of $232, 20% down payment, and 5-year term.

Exceptional Credit Average Credit Bad Credit
Monthly Payment $232 $232 $232
Loan Rate 3.50% 7.00% 11.00%
Number of Months 60 60 60
Car Price $15,919 $14,625 $13,320
Down Payment $3,184 $2,925 $2,664
Total Interest $1,165 $2,200 $3,245